The Vision And Purpose Of Wal-Mart

At the heart of Wal-Mart's growth is the unique culture that "Mr. Sam" built. His business philosophy was based on the simple idea of making the customer No. 1. He believed that by serving the customer's needs first, his

The key facts and critical issues in the Wal-Mart Revised Its Marketing Strategy, is that Wal-Mart must do better with their pricing. Wal-Mart is declining sales and reducing profits. If Wal-Mart wants their loyal customer to return, things need to change. Wal-Mart has been ranked the number one non–oil company on the Fortune500 for the past nine years (Huang, Hansen, Anderson 2012). Critical issues are that the CEO is looking at other grocery chains. Wal-Mart promise to keep its everyday low prices. The company is looking to increase its promotion. For example, radio advertising increase, radio messages, and invest more in social media. Some key facts are Wal-Mart competitors are trying to compete. The company has even change their shelf space

Due to such a large scale of operations, Wal-Mart can make there prices low at cost, this is an advantage. Also Wal-Mart has over 10,130 stores. The wide ranges of products, with this Wal-Mart have a lot of brands to choose from. The Competence in information system, the effective management of the supply chain and the logistic is one of the most important factors for Wal-Mart. The cost leader strategy, help Wal-Mart with the prices, as for they are able to put prices at the lowest over other competitors. The last one international operation, Wal-Mart does not rely on US stores only, but the competitors do (Jurevicius,

Wal-Mart Stores Inc.’s low cost structure, asset management and inventory control has been the foundation for success for Wal-Mart. These unique competencies have allowed the company to ensure everyday low prices and pass the value on to their customers. Looking ahead, Wal-Mart Stores Inc. will continue to bring the value to customers, associates and shareholders by increasing their technology and improving efficiency in asset management and inventory control. The low cost structure that Wal-Mart employs will continue to allow the value to be passed along to our customers.

Walmart started out as a local discount retailer in Rogers, Arkansas and evolved into a discount powerhouse. Through Sam Walton’s leadership, dreams, and risk taking, Walmart success is shown through the innovation that developed in the following areas from thousands of stores within the United States and Puerto Rico, 27 countries, 600 plus Sam’s Club in the United States, 100 international clubs, and eCommerce websites for 10 countries to include the United States. This amazing success lies within one-man vision to provide customers and communities’ ways to save money for higher living standards. Walton’s strategy was “The Lowest Prices Anytime, Anywhere” (Corporate, 2015).

Sam Walton found a strategy that he felt would work for his company. Implemented it into a few stores and when it work, he used it for all of his stores. He continued to improve every aspect of his company and used the same formula with each of his stores.

Wal-Mart mission Statement is "Saving people money so they can live better"(Lucio, 2012). The mission of Wal-Mart is to save money. “Wal-Mart philosophy is Global Ethics is responsible for promoting Walmart’s culture of integrity. This includes developing and upholding our policies for ethical behavior for all our stakeholders everywhere we operate.

Wal-Mart is a well-known American company that operates retail stores includes grocery stores and combination of general products store. Wal-Mart is the number one retail stores in U.S. and in world wide. The everyday low price plan makes Wal-Mart different from the other competitors. The company’s internal strengths includes: low-price and customer oriented, offers one stop shopping, and cost advantages and this is why customers satisfied with the Wal-Mart every day low price plan. The customers will be able to get branded products for lower prices, and customer will continue to shop there because of the price, selection and size. The Wal-Mart company is like a one stop location for all purchase, such includes: sells electronic items, baby and kids clothing’s, video games, toys, fitness and sports instruments, jewelry, groceries, foods station, salon and so many more things.

Sam Walton is (was) the founder of Walmart and he had a vision of where he wanted to take Walmart and how he could differentiate it from other competitors. He wanted to help people save money as well as live better. This is Walmart’s mission and purpose till this very day. Walmart is still in business as well as the largest retailer in the world by revenue according to the two thousand fourteen Fortune 500 list. Because of Walmart’s mission, “more than two hundred and fifty million customers visit their retail stores in twenty seven countries” (Corporate & Financial Facts, N.A. 2014). Walmart has even surpassed Exxon Mobile and is a multibillion dollar company that on average makes two hundred twenty billion a year! (Corporate &Financial Facts, N.A. 2014). According to Sam Walton, Walmart “has a culture of working together to fulfill their purpose and is incorporated into every aspect of the business” (Walmart Culture, 2014, n.d.). Their beliefs that are enforced and practiced are: “service to their customers, respect for the individual, strive for excellence, and act with integrity” (Walmart Culture, 2014, n.d.).

Wal-Mart’s environment consist of its culture, ethics, and social responsibility. The internal environment consist of factors that affect Wal-Mart from within the store. Wal-Mart’s mission statement is, “We save people money so they can live better.” (Farfan) Wal-Mart values their mission and objectives by continuously competing with competitors and keeping their prices low. With that being said, Wal-Mart’s first level of organizational is behavior. “If we work together, we’ll lower the cost of living for everyone…we’ll give the world an opportunity to see what it’s like to save and have a better life”, is the purpose of the company. Wal-Mart has three beliefs respect for the individual, service to our customers, and striving for excellence.

As we have reviewed and studied the strategy, culture, finances and the challenges and successes at Wal-Mart, there are many strategies we see that the company must undertake to hold its dominate position and drive further growth. Herein, we define our top four. These core strategies include: rebuild and recreate its reputation in the face of recent challenges; continue to show price leadership; improve the customer experience; and drive international growth.

Walmart’s mission statement is “ to help people save money so they can live better”. Its final objective is “ to be the best retail store with a large assortment of high quality and

As I researched how the organization started and now currently functions, it is a model example of what a company should be in the country that promoted Capitalism. I am impressed with the accomplishments of Sam Walton. On the webpage for Wal-Mart, they posted a quote from his autobiography. Sam Walton said, if you think about it from the point of view of the customer, you want everything: a wide assortment of quality merchandise; the lowest possible prices; guaranteed satisfaction; friendly, knowledgeable service; convenient hours; and a pleasant shopping experience. You love it when a store exceeds your expectations, and you hate it when a store

Wal-Mart saw that their competitors’ sales were increasing, so they had to take action. The key facts and issues presented in this case were the declining sales and reducing profit. Wal-Mart had to revise their marketing strategy, while maintaining what they are known for; which, is their everyday low prices (Ferrell, Hirt, & Ferrell, 2009). In order to stay on top, the company must keep up their market strategies. Wal-Mart felt the pressure form their competitors, so they had to adapt to the new and change the existing strategies (Our History, n.d.). It is so important in the business world to be able to embrace the change. When Sam Walton started Wal-Mart he had ten simple rules. They are commit to your business, share profits with associates and treat them as partners, motivation, communication everything, appreciate everything associates do, celebrate our success, listen to everyone in the company, exceed your customers’ expectations, control your expenses, and swim upstream (Our History, n.d.).

Walmart uses the Walmart Way Principles, which help Walmart to function in the business world. First, every successful venture begins with a dream that requires determination, passion, and the willingness to grow it. Second, you must have a vision that allows you to see a bigger, better, stronger you in the future, while never taking your eyes off of who you are and what you are doing today. Third, to build a great company you must create a culture where everyone shares the same values, purposes and